Today, I want to end this week with key insights on strategic plan performance.

“Strategic plans should concentrate on critical success factors for the company, providing plans for closing the gaps between what the company is capable of doing versus what it needs to be able to do. Gap analysis is key to identifying areas for improving performance. Negative gaps require immediate corrective action to eliminate the root cause and improve performance toward the goal and narrow the gap. Positive gaps showing better than expected performance may encourage the company to take further action to enhance the gap. Lastly, it is critical to integrate a contingency plan in case of errors or significant changes in the market occur.”